Adjustable Life - Descriptions

  • Adjustable Life Insurance: a type of insurance that allows the policyholder to change the plan of insurance, raise or lower the face amount of the policy, increase or decrease the premium, and lengthen or shorten the protection period. (p109/G1)

2002 - IAIS/World Bank - Supervision of Insurance Operations - 140p

  • *Adjustable Life Insurance
    • A form of life insurance that allows policy owners to vary the type of coverage provided by their policies as their insurance needs change.  (p79)

2010 - III - Insurance Handbook A Guide to Insurance: What It Does and How It Works - 205p

  • Adjustable life insurance products provide a guaranteed benefit in return for the payment of a fixed premium and allow the policyholder to set the coverage period, premium and face amount combination. (p12)

2018 - Annual Report - Principal Financial Group - 249p

  • Adjustable Life insurance policies are essentially whole life policies that within limits have the premium and death benefit flexibilities of UL.
    • Unlike UL, these policies are not “transparent” and contain non-forfeiture values.
    • Policy premiums and death benefits can be adjusted along a continuum ranging from limited pay policies on a guaranteed basis to term insurance for limited durations. 
    • These policies have had a rather limited distribution, as they were only sold by a small number of insurance companies.

Date-? - Charity-Owned Life Insurance: An Objective Primer for Planned Giving Officers, by Richard M. Weber and Randy A. Fox - 84p